Skyroot Aerospace, India’s private space launch company, has announced that it is set to take the global stage with help from its recent $11 million Series A capital raise.
Founded in 2018, by former Indian Space Research Organization’s (ISRO) scientists Pawan Kumar Chandana and Naga Bharath Daka, Skyroot Aerospace will use the funding to acquire new talent and complete the development of its Vikram-1 launch vehicle.
“The Vikram series of rockets are built on upgradeable architecture which can be assembled and launched in less than 72 hours and can take satellites up to 720 kg to low Earth orbit in the most cost-effective way,” said Mr. Chandana, CEO of Skyroot. “It also comes with a space tug as its upper stage for the last mile of delivery and can reach multiple orbits in a single launch — giving our customers the benefit of both a rocket and space tug in one.”
“We identified a novel investment opportunity in the competitive launch space when we understood the advantages that regional launch services could provide their global customers with the right production model,” added Steven Lau, Managing Partner of WorldQuant Ventures, one of the U.S. investors in Skyroot. “We are delighted that we discovered Skyroot early with these capabilities and look forward to continuing to support them as they scale globally.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.